(1) The notice of assessment required by Section 16-4-205 shall be:
(a) personally served on each shareholder; or
(b) sent by first-class mail to each shareholder at the address shown on the corporation's records.
(2) A shareholder is responsible for providing the shareholder's current mailing address to the corporation for purposes of Subsection (1).
(3)
(a) Except as provided in Subsection (3)(b), a notice of assessment shall be published:
(i) once a week for two weeks in a newspaper of general circulation in the location of the corporation's principal place of business; and
(ii) in accordance with Section 45-1-101 for two weeks.
(b) A water company may elect not to publish notice under Subsection (3)(a).